Union Pacific could reach agreement to acquire Norfolk southern early next week, Bloomberg News reports

FILE PHOTO: Norfolk Southern Train rests near the University of North Carolina’s energy generation plant, after delivering coal, in Chapel Hill

(Reuters) -Union Pacific, the largest U.S. railroad operator, could reach an agreement to acquire rival Norfolk Southern as soon as early next week, Bloomberg News reported on Friday, citing people familiar with the matter.

Union Pacific had said on Thursday it is in advanced talks to acquire its rival, signaling that a deal to form a $200 billion coast-to-coast rail company could be close – and potentially trigger further consolidation among remaining freight rail giants.

Reuters could not immediately verify the report.

(Reporting by Anusha Shah in Bengaluru; editing by Diane Craft)